NVIDIA Co. (NASDAQ:NVDA) is CV Advisors LLC’s 3rd Largest Position

CV Advisors LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,689 shares of the computer hardware maker’s stock after selling 2,119 shares during the quarter. NVIDIA makes up about 5.8% of CV Advisors LLC’s holdings, making the stock its 3rd largest position. CV Advisors LLC’s holdings in NVIDIA were worth $12,106,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Lantz Financial LLC raised its position in shares of NVIDIA by 833.1% in the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after purchasing an additional 36,774 shares during the period. Conrad Siegel Investment Advisors Inc. raised its holdings in NVIDIA by 1,039.8% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 8,024 shares of the computer hardware maker’s stock valued at $991,000 after acquiring an additional 7,320 shares during the period. Allied Investment Advisors LLC purchased a new stake in shares of NVIDIA during the second quarter worth $322,000. Scott Capital Advisors LLC boosted its holdings in shares of NVIDIA by 1,279.1% in the second quarter. Scott Capital Advisors LLC now owns 13,157 shares of the computer hardware maker’s stock worth $1,729,000 after acquiring an additional 12,203 shares during the period. Finally, Jacobs & Co. CA grew its position in shares of NVIDIA by 830.6% in the second quarter. Jacobs & Co. CA now owns 344,454 shares of the computer hardware maker’s stock valued at $42,553,000 after purchasing an additional 307,438 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on NVDA shares. Westpark Capital increased their price objective on NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. William Blair started coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. The Goldman Sachs Group raised their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. TD Cowen upped their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Stock Up 3.1 %

Shares of NVIDIA stock opened at $134.70 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89. The company’s 50 day moving average price is $139.63 and its 200-day moving average price is $127.25. The stock has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 53.01, a P/E/G ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. Equities research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

NVIDIA declared that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,556,986 shares of company stock valued at $201,687,727 in the last 90 days. Insiders own 4.23% of the company’s stock.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.